This paper investigates the nonparametric analysis of technology under non-convexity. The analysis extends two approaches now commonly used in efficiency and productivity analysis: Data Envelopment Analysis (DEA) where convexity is imposed; and Free Disposal Hull (FDH) models. We argue that, while...

Many previous studies provide pricing models of options on futures spreads. However, none of them fully reflect the economic reality that spreads can stay near full carry for long periods of time. We suggest a new option pricing model that assumes that convenience yield follows arithmetic...

This paper investigates habitat-fisheries interaction between two important resources in the Chesapeake Bay: blue crabs and Submerged Aquatic Vegetation (SAV). A habitat can be essential to a species (the species is driven to extinction without it), facultative (more habitat means more of the...

In this paper, we contribute to the existing literature of global yield gap analysis by using geo-spatial dataset on crop yields, agro-climatic factors and selected socio-economic variables. In line with the literature, we link yield gaps to technical efficiencies. By treating each grid-cell as...

This study explores the strategic pricing behaviors across retail chains for produce products. We adopt a Panel-VAR model to identify the driving factors of retail price variation and find that retail price history, competition, product cost are among the key drivers of retail price change....

The first issue of Agricultural Economics Research appeared in January 1949. The original purpose of the new journal was to provide the Bureau of Agricultural Economics with a "medium for the publication of technical articles." Following the abolition of the Bureau in late 1953, the journal...

Understanding the dynamic programming algorithms used In the optimal grain storage literature IS a prerequisite to understanding the findings of this literature This article Introduces these dynamic programming algorithms by examining several In terms of their underlying economic behavior These...

Production and cost functions have long been recognized as vital components of economic analyses relating to the individual firm. The U.S. Department of Agriculture, beginning with the pioneering work of T V. J. Spillman, has been a continuing participant in their empiric and theoretical...